State of the U.S. Economy; Neutral Interest Rate Policy Sep 19, 2022 View in your browser By Blu Putnam, Chief Economist Arthur Yu, Manager, Data Science CME Group State of the U.S. Economy Economy contracted two straight quarters, but the labor market remains robust Air travel has rebounded from pre-pandemic low to 2.25 million passengers per day Credit card spending is on an uptrend, rising above pre-pandemic levels Since May 2022, time spent in grocery stores is back at pre-pandemic levels Read article Understanding Fed’s Neutral Rate Policy Fed funds rates rising to 3% would reflect a neutral Fed stance Last time Fed had a neutral interest rate policy was in 2018 Current rate hikes could be seen as a removal of accomodation Inflation was at a 40-year high at 8.3% in July, down from 9.1% in June Read article SEE MORE ANNOUNCEMENTS
